1. Describe the political economy of commodities trading in 17th century Amsterdam. Explain the particular economic navigational challenges for Miguel Lienzo:
Between the 16th and 17th century, economic reforms were not bereft of controversies. Misfortune struck Antwerp, the most renowned merchandizing city that ever was in the trading world. The special entity status passed on to Amsterdam and remained until the second half of the next century-18th. Between the last quarter of 16th century and first decade of the 17th century, Amsterdam’s commodity trade suddenly emerged as metropolitan and cosmopolitan in genre. Amsterdam surged ahead consolidating and pruning its commodity trading position. Its market share and the prominent place in the commodity trading served as a benchmark or indices to the European market in terms of pricing. By the beginning of the 17th century, Amsterdam was on top in the commodity trading and shipping.
In the 17th century Amsterdam, one could witness the fortunes changing hands. Amongst the Amsterdam’s community of Portuguese Jews, was a trader-Miguel Lienzo known for his acumen in commodity trading. He was acknowledged as sharp-witted and shrewd and knew his way around in the commodity exchange. But misfortune surrounded him and he lost all he had, impoverished and felt humiliated by the sudden financial wreckage he had to face. A Dutch widow Geertruid Damhuis entices Miguel and motivates him to join her in the coffee trading which is a new thing in the commodity market. Miguel goes for it at the right moment and manipulates the prices to his advantage. He uses all his talents to keep the coffee trade a monopoly with him, along with Geetruid. Miguel, while in the coffee trade, came across a world of trade full of schemers, rogues, treachery and deception. He confronts Joachim Waagennar, a co-trader, and has trouble escaping from his continuous nagging for his dues. Solomon Parido is the main enemy of Miguel in view of the latter’s breaching the promise of marrying Parido’s daughter. Parido sets out to avenge Miguel and blocks all his ways to the coffee trading. Alonzo Alferonda, another Portuguese Jew, lends a helping hand to Miguel in order to avenge Parido who harmed him through Ma’amad’s authority. On the other hand Miguel falls for his sister-in-law Hannah and keeps secret contacts with her as she is not happy with her husband Daniel, younger brother of Miguel. Hanna’s maid Annetje finds out that, Geetruid, Miguel’s coffee-trading partner, is in the service of Parido to spy on Miguel in the commodity trading. Eventually Parido is tricked by Miguel at the coffee trading. Geetruid is guilty but Miguel gives her back the money he borrowed. Geetruid confesses that she and Hendrick are actually renowned Dutch thieves. Joachim is no more a threat to Miguel because he flees Amsterdam for fear of retribution. Hannah and Miguel have a son named Samuel and another boy and Miguel carries on his coffee trade prosperously and securely.
2. Provide examples of 17th century Amsterdam rituals and customs, and explain how these propelled economic behavior:
Amsterdam of 17th century had a culture that was varied and unique.
Women in Amsterdam: As Cor Snabel observed “the man is head of the family, but the woman is the neck, that allows moving”. Amsterdam’s legal system gave women the right to proceed against the husband. The unmarried pregnant woman could go against the father-to-be and compel him for marriage. In case he is married, she could demand compensation for childbirth and regular maintenance allowance. Dutch women of the upper echelons kissed a male visitor upon meeting and again kissed him while leaving. Going out alone with strangers, frank conversations, kissing publicly was not formidable but commonplace with Dutch women.
Servant Girls in Amsterdam: In the 17th century Amsterdam, even a middle-class housewife could afford the services of servant girls who started out young. They were allowed to eat with the family and treated part of the family but kept at a distance, though. However, they were never beaten up by their employers. Over the times, things changed and the merchants who got richer needed 20 girl servants either for the household or at workplace. Gradually personal and individual contact with the girl servants faded away giving scope for disloyalty amongst the servants.
The servant girls were often charged with infidelity and disobedience. They sometimes did live together with the male employers or forced to stay as concubine.
Marriage in 17th century Amsterdam: In the later 16th century, marriages did not take place in the church; but simply the couple made a promise to each other of being faithful. A ring, broken into two pieces, was given to each partner. . The actual customary marriage was performed by the partners sleeping together and the wedding party taking place after the wedding night. Mixed marriages as with Muslims and Jews were unconventional and illegal. A widower could easily remarry despite having children, but a widow with children could not do so easily unless she was attractive enough and also had good possessions behind her. The poor widows had to live upon the charities for survival. In case of death or divorce only the blood relations inherited the property.
Charity in 17th century Amsterdam: Poverty coupled with old age was a big suffering in Amsterdam. The city council provided ‘Old Man’s House’, while the church and other private citizens magnanimously contributed large amounts to charity. The city council founded the “Bugerweeshuis”, also called the citizen orphanage and “Aalmoezeniersweeshuis”, a centre for the abandoned children and of the non-citizen. There was a charity institution for the poor, widows, destitute, crippled and unemployed and the likes.
Funerals in 17th century Amsterdam: The graveyard around Nieuwe Kerk, New Church, was demarcated into 3 parts; one for the miserable who died due to execution and suicides. The remaining 2 parts were meant for the poor. The elite were buried in the churchyard. However many graveyards were abused by gamblers, bird-shooters, carpenters, and street vendors.
3. Explain how the culture of 17th century Amsterdam is interpreted by citizens and commodity traders alike to reproduce cultural inequity:
In the 17th century, Amsterdam was propelled into a new era, both in economic and cultural sphere. The Dutch culture and the lifestyle of its population were unique and unparalleled. The Amsterdam was Calvinist in religion, but the Dutch practiced a distinct religious tolerance not known to others in Europe. Contrary to the post-war practical situation, the Dutch nourished a great culture, one that could be identified with Rembrandt, a great artist of international repute in the 17th century. The Dutch had the expertise of turning home life into artwork and the artists during this period were greatly supported and encouraged by the citizens. Amsterdam had a unique culture of welcoming refugees, fleeing Antwerp and giving shelter to them. These refugees brought in capital and skills. Amsterdam’s cultural heritage boasts of “Chamber of Assurances’. A rich culture of working class has drawn artists of the likes of Rembrandt, De Hoog and Hobbema. New Testament emphasizing the preaching, parables and teachings of Jesus, depicted in daily routine, served as “Momenti Mori” which means “Remember that you must die”.
4. What (if anything) does this story relate about contemporary global capitalism?
Capitalism is a form of economic system where in, private persons own and control capital assets. The services and goods are produced for earning profits. In simple terms, capitalism is using wealth to create more wealth. In the instant story of “The Coffee Trader”, the approach of Miguel Leinzo is evidently capitalistic with his active and successful participation in commodity trading-the coffee trade, in the Amsterdam of 17th century. Miguel, as a commodity broker, facilitated the capitalists in achieving their primary objectives of making profit. Amsterdam played host to the global commodities exchange, the world’s first ever, and became a birthplace for “Futures Trading”. The commodities exchange transacted in Calls, Puts and Futures trading. The Calvinist faith in the 17th century Amsterdam promoted and accelerated the development of capitalism by Reformation of faith; which variety became the State Religion of Netherlands after the 1651 Great Assembly. The Reformation aided the capitalistic concept by erasing the stigma, the Catholic Churches had attached, traditionally, to the money-lending- or usury in pejorative Biblical term. The Calvinism, in Amsterdam, on the other hand encouraged investment for a purpose or cause while viewing luxury and extravaganza as vices and thrift as a virtue.
